Statements In Re Finances And Control Of Boston Elevated Railway Company

Author : Louis Dembitz Brandeis
Publisher : Forgotten Books
ISBN 13 : 9781330127162
Total Pages : 20 pages
Book Rating : 4.1/5 (271 download)

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Download or read book The Washington Street Subway written by Louis Dembitz Brandeis and published by Forgotten Books. This book was released on 2015-06-16 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Washington Street Subway: Comments on the Financial Condition of the Boston Elevated Railway Co On April 14, 1902, Mr. Pillsbury addressed Hearing of your Committee in opposition to the Washington Street Subway Bill, originally introduced at the request of the Boston Associated Board of Trade and the Public Franchise League, and which (in a slightly amended form) has been adopted by Mayor Collins as expressing the wishes of the people of Boston and is urged by him for immediate passage. Mr. Pillsbury purported to state "frankly and fully" the financial condition of the Boston Elevated Railway Company, and asserted that this condition afforded a conclusive reason why "the burden" of a new subway should not be assumed by it. In the few minutes then remaining for reply, I stated to your Committee reasons why we believe that the Company can afford to take the new subway on the terms proposed by our bill; that it will gladly do so if it finds that the Legislature will not grant even better terms; and that the opposition of the Boston Elevated Railway Company is based really on the desire to secure permanent franchises. I now submit in more detail some of the facts relating to the financial condition of the Company upon which our conclusions are based. Net Earnings Not Decreasing First. Mr. Pillsbury says - referring to the operation of the system by the Elevated Railway Company during the four years from September 30, 1897, to September 30, 1901, - "Net earnings are increasing in but half the ratio of gross earnings." This statement is incorrect. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.